A company first researches customer problems, develops a suitable service, sets a feasible price and then communicates its benefits. Which marketing principle is illustrated?
Correct answer: C. Market orientation
- A. Production orientation
- B. Product orientation
- C. Market orientation
- D. Selling orientation
Explanation
Market orientation means organising business activities around understanding and satisfying customer needs while achieving organisational objectives. Selling orientation gives greater emphasis to persuading customers to buy what the firm already produces.
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Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
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